Record revenues for Fylde coast energy group

Managing director Janet Thornton at Inspired Energy in Kirkham.
Managing director Janet Thornton at Inspired Energy in Kirkham.
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Fylde coast energy firm Inspired Energy has reported record growth in its latest half year results.

The improvement shown in figures for the six months to the end of June, reflect integration of two firms bought in 2015.

Revenues rose by 56 per cent to £10.6m while pretax profit rose to £3.31m from £2.46m in the same period last year.

Inspired bought Wholesale Power in July last year and STC Energy and Carbon Holdings last November.

These allowed it access to new sectors such as the public sector, leisure and logisitics.

The company said its Procurement Corporate Order Book, which “provides strong visibility of revenues and is a consistent guide to the future performance of the Corporate Division”, had increased by 69 per cent to £25.7m

Janet Thornton, CEO of Inspired, said: “Once again, I am delighted by the strong performance of the group in the period, delivering record growth on all fronts, as we continue to deliver value-added services to our customers.

“The focus of the six months to June 30 was on the integration and relocation of the acquired businesses of WPUK and STC which have been achieved on target and within budget.

“In addition, the underlying businesses have continued to perform to plan, with sales opportunities created by the acquisitions already gaining traction.

“The record results are again testament to the commitment and expertise of the Group’s team.

“The Group continues to deliver strong organic growth and the Corporate Division is now firmly established as a leading energy consultant to UK Corporates.

“The SME division also continues to contribute strong revenue, profit and cash to the Group, with minimal increase in headcount and I am pleased with the progress that this division is continuing to make.

“The momentum built in the last two years continues unabated with the second half of the year starting strongly.

“Since 30 June 2016, a major retail focussed corporate customer of STC, having engaged with Inspired’s Risk Managed Team, has entered into a contract that is now the largest signed by the Group to date.

“We look forward to delivering another set of strong results for the year ended December 31.”